Gold retraced to the upside during the Asian session and with opening of the European session, trading above 1170.00-1171.00 along with moving above moving averages.
In fact, moving above this level weakens the bearishness; noting that, a break above 1189.00 will change the direction.
ADX and RSI are trending upwards and that contradicts with the move below 1189.00; therefore, we will be on the sidelines.
Support: 1170.00 – 1165.00 – 1158.00
Resistance: 1180.00 – 1189.00 – 1190.00
Direction: Sideways